Critical question: Limit or NL?

Bare in mind that I'm speaking in terms of generalities below. However, it's pretty accurate to say that it is just too simplistic to say chase or don't chase.

A loose limit game is mostly a game of profitable chasing; you have to understand pot odds and concepts such as pot-equity (edge). It's critical to understand that you will often be faced with scenarios in limit where you might currently be behind but it is still correct to raise on the come (for value).

In NL, very simplistically 'chasing' is not as much a part of the game. However, that being said you also have much larger implied odds working in your favour if you are up against big stacks when you do hit a strong draw. You have to be much more selective about chasing because your opponent(s) can put out a big bet on any future street that will destroy your odds of continuing on your draw in a heart beat.

Have you read any good books on poker fundamentals? If not, you should! You need to understand the game at a deeper level that just saying "I chase", or "I never chase". No offense to your friends, but don't listen to them unless they've done this reading themselves.

Pick up Sklansky's 'Theory of Poker' if you really want to understand this game. Compliment that with a good Hold'em book that focuses on the type of game you play whether it be Limit, NL, tournaments etc. We can provide specific recommendations; just ask, or follow the links off the FTR homepage.